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In a recent March 19, 2015 decision, the Illinois Supreme Court refused to acknowledge the self-critical analysis privilege. This recent discussion underscores the need to understand the different standards for the privilege in each jurisdiction a company operates under and the importance of the proactive steps to safeguard privilege detailed in our November 13, 2014 post, Protecting Your Safety Investigations and Deliberations from Prying Eyes. Illinois now joins a number of states, such as…

Every day companies deal with an ongoing safety analysis of their own products. These Safety Teams are routinely interdepartmental. The Safety Teams must consider design changes, manufacturing issues, potential recalls, potential claims or lawsuits and overall consumer safety. Sensitive information is always shared by the Safety Team. Companies believe (or hope) that the process, including any documents and information, is all confidential until a lawsuit ensues and much of the Safety Team’s work is revealed. What can…

Today, the Consumer Financial Protection Bureau (“CFPB”) engaged in its first major enforcement action by requiring Capital One to refund 2 million consumers approximately $140 million for profits gained from deceptive marketing practices related to its credit card protection services. The settlement was reached following an investigation, prompted by a March 2011 Government Accountability report on the high costs of credit card protection services, and numerous consumer complaints about Capital One’s credit card add-on products. The add-ons…

This past Thursday, June 21, 2012, the State National Bank of Big Spring (“National Bank’”), the Competitive Enterprise Institute (“CEI”), and the 60 Plus Association, Inc. (“the Association”), filed suit against the Consumer Financial Protection Bureau (“CFPB”), the U.S. Department of the Treasury and various financial officials, including Richard Cordray, Director of the CFPB, in their official capacities. In a 32- page Complaint, the Petitioners railed against what they characterized as the unchecked power of…

Yesterday, June 19, 2012, the Consumer Financial Protection Bureau (“CFPB”) launched the first public database of complaints against credit card companies. The database shows the different complaints that have been filed against any bank that issues credit cards. The director of the CFPB, Richard Cordray, reports that the new database is not only about keeping consumers informed, but also about providing the CFPB with important insight into consumers and problematic transactions with credit card related financial…

On Wednesday June 6, 2012, the Consumer Financial Protection Bureau (“the Bureau”) also issued an interim rule with request for public comment, on the rules drafted to bring the Bureau into compliance with the Equal Access to Justice Act (“EAJA”). The rules set out the guidelines for payment of attorney’s fees for certain parties, excluding the United States. The Bureau followed closely to the model rules created by the Administrative Conference of the United States. …

On June 6, 2012 the Consumer Financial Protection Bureau (the “Bureau”) issued a final rule providing more on their investigative procedures. Codified in Section 1080, the rules have only further delineated the practices and processes already in use by the Bureau. Yet, the regulations provide further structure and clarity to the Bureau’s intended investigation procedures.
As noted in an earlier posting, the final investigation and adjudication rules are modeled heavily after those presently employed by…

The Consumer Financial Protection Bureau (“the Bureau”) promulgated various final rules dealing with their enforcement powers on June 6, 2012. Among them was the final rule for state official notification. While short in comparison to the other rules issued, this rule provided some guidelines for state officials and attempted to create a process that will keep the Bureau informed of all consumer protection actions initiated by the states.…